Free on Board (F.O.B.)

Free on Board (F.O.B.)

 

 

Free on Board (F.O.B.)

 

Meaning of Free on Board (F.O.B.)

Free on Board (F.O.B.): This is a historical transportation industry term. It deals with who pays the shipping charges on goods produced. The term is a pricing agreement which does not include the carriage charges, from the seller, to the buyer of a product. The seller absorbs the freight charges, the carriage charges, the destination charges, the shipping charges, etc., whatever you wish to call the expense to move the material from the seller to the buyer. There may well be third party billing of these carriage charges. The seller may well have incorporated these charges in the selling price, but does not invoice the buyer for that fee. Remember…"FREE ON BOARD," equates to a remembrance thought factor of …"FREE ONTO the BUYER"…or F.O.B. as the early traffic managers so coined the term.

 

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Free on Board (F.O.B.)

 

Free on Board (F.O.B.)

 

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Free on Board (F.O.B.)

 

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Free on Board (F.O.B.)